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25 February 2021 The on-line newspaper devoted to the world of transports 21:11 GMT+1

January 26, 2021

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South Korea's SM Merchant Marine Co. is preparing an initial public offering

Expected to be listed on the Korean Stock Exchange by the end of the year

The shipping company SM Merchant Marine Co. (formerly SM Line) of the South Korean group SM announced the predisposition, with the assistance of fellow countrywoman NH Investment & Securities Co., of an initial public offering with the aim of accessing the stock market of the Stock Exchange during the second semester of this year.

By making known the intention to list, the containerised navigation highlighted the recent remarkable increase in its performance, also supported by the collaboration with the 2M alliance made up of the two leaders of the the Maersk Line and the Mediterranean Shipping Company ( of the 13th February 2020). Growth expected to continue this year, with an annual financial year 2021 for which it is expected operating profit of 200 billion won (181 million won) dollars) compared to that of 140 billion won recorded in 2020.

"With the IPO- explained the CEO of SM Merchant Marine, Kee Hoon Park - we will secure a base for the growth, we will improve the transparency of management and we will make a leap forward as a reliable company."

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